The government initiates debt restructuring, causing a surge in Venezuela and National Oil Company bonds
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Previously, the country initiated what is widely considered to be one of the largest and most complex sovereign debt restructurings in history. According to Tradeweb data, the high-yield bond maturing in 2026 (with a coupon rate of 11.95%) rose by nearly 2 cents, with the bid price slightly above 60 cents. Some bonds issued by Petróleos de Venezuela S.A. (PDVSA) increased by over 3 cents, with trading prices reaching a ten-year high, ranging between 40 and 50 cents. Expand
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